DexCom (NASDAQ:DXCM) Price Target Raised to $85.00

DexCom (NASDAQ:DXCM) had its price target lifted by JPMorgan Chase & Co. from $75.00 to $85.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the medical device company’s stock.

DXCM has been the topic of several other research reports. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Oppenheimer lowered their price target on shares of DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price target on shares of DexCom in a report on Monday, August 26th. Morgan Stanley lowered their price target on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $73.44 on Friday. The firm has a 50 day moving average of $70.11 and a 200 day moving average of $97.95. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that DexCom will post 1.69 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares in the company, valued at approximately $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock worth $126,390 over the last quarter. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DXCM. Wealth Enhancement Advisory Services LLC grew its holdings in shares of DexCom by 11.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,322 shares of the medical device company’s stock worth $3,512,000 after purchasing an additional 2,591 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in DexCom in the first quarter worth about $347,000. Toth Financial Advisory Corp lifted its stake in DexCom by 870.9% in the first quarter. Toth Financial Advisory Corp now owns 6,583 shares of the medical device company’s stock worth $913,000 after acquiring an additional 5,905 shares during the period. Trilogy Capital Inc. purchased a new stake in DexCom in the first quarter worth about $470,000. Finally, Congress Wealth Management LLC DE lifted its stake in DexCom by 0.6% in the first quarter. Congress Wealth Management LLC DE now owns 168,657 shares of the medical device company’s stock worth $23,393,000 after acquiring an additional 952 shares during the period. 97.75% of the stock is currently owned by institutional investors.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.